Multiple Choice
Which of the following is a statement about the relationship between generally accepted government auditing standards (GAGAS) and generally accepted auditing standards (GAAS) ?
A) GAGAS and GAAS provide standards for financial audits, attestation engagements, and performance audits.
B) GAGAS encompass GAAS and supplement certain GAAS.
C) Single audits must be performed using GAGAS and GAAS.
D) GAGAS are promulgated by the Government Accountability Office and GAAS are promulgated by the Governmental Accounting Standards Board.
Correct Answer:
Verified
Correct Answer:
Verified
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